Cushman & Wakefield’s Property Tax Practice group offers a full range of real estate and personal property tax-related services. Property tax is a core competency of C&W’s Valuation & Advisory group, incorporating and relying on the specialized skills and knowledge of appraisers, brokers and other specialty consultants.
Property tax is typically the largest cost in property ownership after debt service. Our team is qualified and experienced in all property asset classes and is able to assist and guide clients in managing their property taxes, identifying opportunities for appeal and representing the client through the process toward achieving significant tax relief.
We work with property managers and owners who may shoulder more than their fair share of the property tax burden to manage their property taxes and secure more equitable and reasonable assessments.
Property tax assessment protocols and procedures can be complex and confusing as they vary significantly by country, region and jurisdiction. Our professionals can make the difference and strive to deliver equity and fairness to our clients’ property tax liabilities.
Property owners and managers benefit by:
- Understanding the tax assessment cycle of the property’s local jurisdiction, recognizing all deadlines and requirements for property reporting and filing timely appeals where necessary.
- Understanding how local assessors deploy appraisal methods to influence or estimate the assessed values, and how to navigate jurisdictional laws to ensure that the process is compliant.
- Analyzing the property’s assessment based on market research and best practices for proper valuation evidence in the context of jurisdictional law and also verifying that the assessment is fair and equitable in relation to the competitive set;
- Demonstrating whether a property is fairly assessed, for which a tax protest would be an unprofitable investment of resources or that could place the property in jeopardy of an increased assessment.
- Identifying, quantifying and pursuing all opportunities for tax reduction; and,
- Providing concise and clear reporting to the client in sufficient detail to allow the client to make informed decisions.
How Can We Help?
Tax management & administration
Our experts provide comprehensive property tax services working with in-house tax departments where needed, tracking and auditing tax assessments, analyzing entire portfolios and providing audits of personal property assessments.
We handle all aspects of the appeal process and will prepare, file and negotiate assessment appeals on our client’s behalf.
In instances in which a formal appeal is required to pursue tax relief, we work in collaboration with legal counsel to identify key issues, develop strategies and provide valuation expertise. We work closely with our clients to provide context and understanding to the real estate financial and valuation components of the assignment, and work with legal counsel in the strategic and case development process, providing the necessary market and valuation intelligence.
Adding Value – The Advantages of Our Approach
Given the magnitude and complexity of property taxes, our professionals provide expertise and guidance in these matters. Our property-specific capabilities and vast databases are unique in the industry, enabling us to counsel our clients with solid and reliable details and market intelligence, ensuring that we provide the best tax advice.
Experience and Resources
Our professionals have extensive experience and specialization in virtually all types of commercial, industrial, residential and special-purpose real estate. We have the capabilities and global geographic coverage to perform property tax-related services in a timely, efficient and cost effective manner.